Mr. Jed Richardson reports

TRIGON METALS ANNOUNCES POSITIVE FEASIBILITY FOR ITS KOMBAT ASIS WEST UNDERGROUND MINE

Trigon Metals Inc. has released the results of the feasibility study undertaken on its Kombat Asis West underground mine in Namibia. The feasibility study was prepared by SRK Consulting South Africa (Pty.) Ltd. in accordance with Canadian Securities Administrators' National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

The feasibility study incorporates both the currently operational open pit mine at Kombat, as well as the restart of the historic Asis West underground mine. Please note that all financial figures in this press release are in united States dollars, unless otherwise noted.

Highlights:

• Significant mineral reserves and production;
• Strong financial metrics;
• Defined project capital requirement;
• Derisked operational and production profile.

Jed Richardson, chairman, commented: "I am pleased with the efforts of our team and the collaboration with SRK on the completion of the study. The projected returns validate our efforts and expectations for the Kombat mine. We look forward to even stronger valuations as we develop through the conversion of more of our indicated mineral resources to reserves, the development of Asis Far West, and exploration of the Copper King extension."

A summary of operating and financial metrics from the feasibility study are presented in an attached table.

Kombat mine overview

Trigon holds six active mineral licences related to the Kombat mine: the four mining licences of Asis West, Asis Far West, Asis Ost and Gross Otavi and two exclusive prospecting licences. The project areas are situated in the Otjozondjupa region, Grootfontein magisterial district of the Otjozondjupa region, Namibia, between the towns of Otavi, 37 kilometres (km) to the west and Grootfontein, 45 km to the east.

Trigon commenced with open pit mining in early 2023 and dewatering of the historic Asis West underground complex (which comprises two vertical shafts, No. 1 shaft and No. 3 shaft, and a decline ramp) in August, 2023. In February, 2024, Trigon announced the commencement of operational training for the commencement of underground mining.

Mineral resources and mineral reserve estimates

Mineral resources

The mineral resource statement presented represents the third mineral resource evaluation prepared for the Kombat mine project in accordance with National Instrument 43-101 by Minxcon (Pty.) Ltd. (an independent consulting company) commissioned by Trigon to undertake this work. The mineral resources have been independently reviewed by SRK and reported using updated techno-economic factors.

Mineral resources are shown in the attached tables. Mineral resources are reported inclusive of any mineral reserves that may be derived from them.

Mineral reserves

The open-pit mineral reserves as set out in an attached table are limited to the Ore Capping open pits, which are situated in the Kombat East and Central areas. The LoM pit has been excluded due to interference with current underground infrastructure. The open-pit mineral reserve is declared at the RoM stockpile as a reference point.

The mineral reserves for the underground mining schedule are set out in attached table. The mineral reserves are reported at the point where the ore is fed into the processing plant.

The combined mineral reserves for the Kombat mine are set out in attached table.

Qualified person

The technical information presented in this press release has been reviewed and approved for disclosure by Andrew McDonald, CEng, MIMMM, FSAIMM, SRK principal engineer and competent valuator, Jaco van Graan, PrEng, MSAIMM, SRK associate partner and principal mining engineer, Mark Wanless, PrSciNat, FGSSA, MGASA, SRK partner and principal geologist, and Joseph Mainama, PrEng, MSAIMM, SRK partner and principal mining engineer, who are qualified persons as defined by NI 43-101.

About Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the company holds an 80-per-cent interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the company is focused on exploration and redevelopment of the previously producing Kombat mine. In Morocco, the company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.

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